City Questions Role of Banks in Neighborhoods

Planning Commissioner Hisashi Sugaya hasn’t been inside a bank in more than a year, he told his colleagues on Thursday.

Now with online banking and ATMs that accept check deposits, banks have simply made it easier to do everything without ever having to see a human face, he added.

“I don’t understand why banks continue to have branches in neighborhoods when they are pushing everyone not to come into the branches?”

These and other arguments were heard by commissioners as they considered a proposed First Republic Bank on the corner of 24th and Sanchez streets in Noe Valley. In the end, his colleagues voted 5-2 to approve the bank, becoming the sixth one within five blocks, because they felt it was neighborhood-oriented. This started a conversation about the role of banks in neighborhoods. TO READ MORE CLICK HERE